For many small businesses, Excel is the default choice for bookkeeping. Excel absolutely has great purposes in the workplace and does many things very well. However, as your business and customer base grows, the risk of broken formulas, misplaced data, and lost files grow with it. Here’s why it is…

With just over six weeks until 2018, it is time to start making plans to accomplish critical bookkeeping tasks. For a small business, this can be a great deal of work. Get a head start by tackling these tasks in the final months of 2017! Review Your 2017 Books Of…

Even if you don’t handle your own financial reporting, it is vital for you to know the difference between cash and accrual accounting. The variance lies in the timing of when sales and purchases are recorded, but the method you choose can significantly impact your taxes. Cash Method When using…

Every January you promise to get your bookkeeping under control, but the reality is that you are just too busy, right? You’re too busy, you don’t enjoy it, and you don’t see much value in it. That means that every year your bookkeeping is pushed to the back burner until…

We get many prospects this time of year who believe bookkeeping is only beneficial for filing taxes. Typically a small business owner will come to us and say something along the lines of “I need a bookkeeper so I can file taxes.” BOSS can, and will, certainly assist in catching…

New Filing Deadline The Protecting Americans from Tax Hikes (PATH) Act, enacted last December, includes a new requirement for employers. They are now required to file their copies of Form W-2, submitted to the Social Security Administration (SSA), by January 31. The new January 31 filing deadline also applies to…

Many small business owners consider hiring a professional to help them understand the financial responsibilities included when owning a business. For many individuals the terms “bookkeeper”, “Accountant”, and “CPA” are interchangeable. However, there is a difference between these positions. Bookkeepers The term “bookkeeper” is a literal one: A bookkeeper keeps…

Balance sheets and income statements (P&L’s) are the two most important reports business owners need to run their business efficiently. These reports aid in measuring the performance and financial health of the company, and it is vital that these reports are accurate when making certain decisions. While both statements are…

Most business owners spend a lot of time thinking of ways to save money. Running a business can break the bank fast, and it’s easy to get discouraged. However, through documentation you can easily find out where your money is coming from, where it is going, and how quickly you…

When starting a business, you will probably spend a lot of time trying to figure out where you can cut costs. Bookkeeping is one area where you may be tempted to try and solve problems on your own, but if you lack the proper experience then you should think twice….